Interactive Brokers vs FXCM Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs FXCM.
Does Interactive Brokers or FXCM offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.
Is Interactive Brokers or FXCM safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 9 global Tier-1 licenses, while FXCM holds 4. FXCM holds 2 global Tier-2 licenses, while Interactive Brokers holds 1. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers (99) earned a higher Trust Score than FXCM (95).
Which trading platform is better: Interactive Brokers or FXCM?
To compare the trading platforms of both Interactive Brokers and FXCM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers to provide better mobile trading apps.
What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.
How many forex pairs and CFDs are available to trade?
Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to FXCM's 41 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while FXCM has 440 available CFDs, a difference of 8060.
Can I trust Interactive Brokers?
Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Interactive Brokers is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Canadian Investment Regulatory Organization (CIRO), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA), Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), and the European Union via MiFID.
Can I trust FXCM?
FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by four Tier-1 regulators (Highly Trusted), two Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). FXCM is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), Canadian Investment Regulatory Organization (CIRO), and the European Union via MiFID.
Is Interactive Brokers good?
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
Is FXCM good?
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
Overall winner: Interactive Brokers
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.